Mukul Agrawal bought 30,000 shares and Madhuri Madhusudhan Kela bought 20,000 shares of this multibagger civil construction stock; do you own it?
The stock gave multibagger returns of 1,590 per cent in just 1 year and a whopping 8,430 per cent in 3 years.
Indian stock markets ended the trading sessions in green today (December 01, 2023), with the BSE Sensex Index was up 0.74 per cent to 67,481.2 while the NSE Nifty-50 Index was up 0.67 per cent at 20,267.9. About 2,109 shares have advanced, 1,638 have declined and 125 were unchanged on BSE.
Though the market was in green, this multibagger civil construction stock was undergoing a correction and hit the lower circuit for the seventh straight day. The stock name is SG Mart Ltd. The company provides renewable energy generation services. The company operates solar and wind energy projects and generates electric power. SG Mart serves customers in India.
Today, the stock hit a 2 per cent lower circuit to Rs 8,019.65 per share from its 8,183.30. The stock gave multibagger returns of 1,590 per cent in just 1 year and a whopping 8,430 per cent in 3 years.
Two ace investors, Mukul Agrawal bought 30,000 shares and Madhuri Madhusudhan Kela bought 20,000 shares via preferential issue of shares of the face value of Rs 10 each at an issue price of Rs 5000 per equity share. Along with them, there were 88 other non-promoters which included individuals, DIIs, FPIs and FIIs were allocated the shares. The preferential issue was a total of 15,77,000 shares aggregating to Rs 788.50 crore.
According to the Quarterly Results, the net sales increased by 236 per cent to Rs 506.24 crore and net profit increased by 600 per cent to Rs 8.95 crore in Q2FY24 compared to Q1FY24. As of September 2023, promoters own a 75 per cent stake in the company and the rest of the stake is owned by the general public i.e., 25 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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